Rivian Automotive, Inc.

Rivian fell about 6.8% intraday after it emerged that CFO Claire McDonough will join GE Vernova on October 30, 2026. Her departure comes at a critical time as Rivian aims to ramp up production and deliveries of the lower-priced midsize SUV R2. Derek Mulvey will take over financial leadership on an interim basis while a search for a permanent successor is underway. Investors were particularly sensitive because of the company’s ongoing cash burn and execution risks around the R2, pushing the stock toward the lower end of its 52-week range. » More on de.investing.com

Claire McDonough will resign as Rivian’s CFO on Oct. 30, 2026, and leave the company to pursue a new challenge and be closer to her family on the East Coast. Rivian named Derek Mulvey interim chief financial officer and has launched a comprehensive search for a permanent successor. The stock fell about 2.1% in after-hours trading; McDonough had been instrumental in the IPO and in advancing measures on capital and cost discipline. » More on de.investing.com

Rivian shares are down 22% year-to-date despite the recent launch of the R2 SUV priced under $60,000, which the company expects to scale to over 400,000 annual units and become a major profit driver. Last quarter revenue rose 27% year over year to $1.66 billion and Rivian swung to a gross profit of $179 million after a prior gross loss, suggesting scale is improving margins. Analysts forecast revenue growth accelerating this year and next, but the company is likely to remain unprofitable near term and the stock may stay volatile, making it a long-term bet on U.S. EV demand and execution. » More on finance.yahoo.com